PACCAR (NASDAQ:PCAR) Stock Price Down 0.1%

Shares of PACCAR Inc (NASDAQ:PCAR) were down 0.1% during mid-day trading on Thursday . The stock traded as low as $124.07 and last traded at $124.28. Approximately 261,096 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,289,163 shares. The stock had previously closed at $124.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Morgan Stanley assumed coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday. They issued a “sector perform” rating and a $123.00 price target for the company. Finally, Evercore ISI lifted their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

PACCAR Stock Down 0.5 %

The stock has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.92 and a beta of 0.91. The business has a fifty day moving average of $109.34 and a 200 day moving average of $96.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc will post 8.13 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by company insiders.

Institutional Trading of PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of PCAR. Prudential PLC acquired a new stake in shares of PACCAR in the 1st quarter valued at about $763,000. Vanguard Group Inc. raised its stake in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after acquiring an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of PACCAR by 66.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after purchasing an additional 27,300 shares during the period. Covestor Ltd increased its stake in shares of PACCAR by 73.6% in the first quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after purchasing an additional 898 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of PACCAR by 0.7% in the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.